Overview
- The CFTC approved KalshiEX’s bitcoin‑referenced perpetual contract, BTCPERP, on Friday, May 29, 2026, creating the first formal route for true bitcoin perpetual futures on a U.S. regulated exchange.
- The agency issued a no‑action letter for Coinbase Financial Markets that lets it route U.S. clients to certain global perpetuals and options through a Bermuda conduit and accept specified crypto assets as margin collateral.
- CFTC staff released guidance on 24/7 trading, clearing and settlement to address nonstop markets and spelled out expectations for liquidity, margining and risk controls for round‑the‑clock derivatives activity.
- Kalshi says it aims to launch BTCPERP imminently, but the product’s timing and reach remain company statements and not a regulatory guarantee.
- Because the actions rest on case‑by‑case approvals, no‑action relief and staff advisories rather than rules, the onshore perp framework provides near‑term clarity but can change with future agency decisions or legislation.